5. GOODWILL AND INTANGIBLE ASSETS (CONTINUED)
5.2 INTANGIBLE ASSETS
GROUP
2020
R’m
Intellectual property
Carrying value at the beginning of year - -
Cost price at initial recognition - -
Accumulated amortisation and impairments - -
Movements during the year:
Additions 1 6 -
Amortisation - -
Carrying value at the end of year 6 -
Cost price at initial recognition 6 -
Accumulated amortisation and impairments - -
1
During the current financial year the company acquired intellectual property (IP) relating to an invention of laser-based volume measuring
devices which the seller developed on behalf of, and with the assistance of Senwes.
2019
R’m
6. INVESTMENT IN COMPANIES
6.1 INVESTMENT IN SUBSIDIARY
The company’s investment in Senwes Limited is accounted for at fair value. The fair value of a financial instrument is
the price that would be received to sell an asset or paid to transfer a liability in an ordinary transaction between market
participants at the measurement date. The fair value of the investment is the market value as traded in the considered
market.
The market value amounted to R11,00 (2019: R11,00) per share as at 30 April 2020.
COMPANY
% INTEREST TOTAL SHARES COST PRICE
TOTAL NET
INVESTMENT
2020 2019 2020 2019 2020 2019 2020 2019
Senwes Ltd 53,16% 52,91% 96 106 723 95 661 046 562 554 1 057 1 052
The directors’ valuation is based on the market price of the Senwes share. The difference between the directors’ valuation
(fair value) and the cost price is accounted for as a fair value adjustment of the investment and accounted for in the statement
of other comprehensive income in the company.
21
SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 Senwesbel Limited Reg no: 1996/017629/06